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at all. i think this was an exercise in showing that the government and the bank of japan, the central bank are on the same page. they certainly delivered that. i think the fact that it's an open-ended asset purchase program, it was more than what the markets had been factoring in. i think the dollar/yen moves are sort of moving independently right now. and i think a lot of that has to do with the comments that we had from government saying, oh, we're not trying to manipulate the currency, which throws into question this competitive devaluation story they were banking on. instead of being explicit about that over the last couple of weeks, now they're going to have to be a little bit more implicit about that. but the man of the hour, mr. shiraka shirakawa, the bank of japan, here is what he had to say. >> translator: japan believes growth is important. we teamed up with the dwoft to strengthen our policies and work on this goal together as one. >> let's take a look at the technicals about this 2% inflation target. because at the same time today, the bank of japan is saying the price of
straight quarters of slow growth. >>> the british government says there's no indication that the hostage crisis is over in algeria as the reports emerge that doesz may have been killed in a rescue operation. >>> investors are unnerved by big spending plans in 2013. plus, glencore pushes back its mega merger by weeks as the regulatory commission begin necessary south africa. >>> welcome to the program. i want to bring you some breaking news in terms of energy prices. the iea is out with its latest 2013 oil report. it expects u.s. oil demand to remain flat on the year. but the headline here does appear that the market, according to the iea language here, is tighter than we thought. all of a sudden, the market looks tighter than we thought. that's the main message we're getting from the organization. it says the world forecast to consume about 90.8 million barrels per day in 2013, up by about a quarter of a million since december. despite seeing the u.s. slight to even negative, seen as driving increase in demand and global supplies felly 170,000 barrels per day in december to 192 million.
of the european ones are under pressure by the government. but the problem is, if you look at issues in the u.s., they're just so low. there's no ability to cut in the long-term. how do you push through entitlement reform and address those issues, especially if there's no market pressure right now? >> my sense is that you don't. i don't understand how that can be achieved and, therefore, i suppose what i struggle with is what solution can the government find? the bank of japan, if you monetize the debt in a low inflationary environment, is this a free lunch? >> right. >> in the uk, it has turned out to be a free lunch. would it in japan? possibly, yes, and, therefore, i wonder if these issues ever will be addressed. >> and what's so interesting, you're seeing these bizarre rates happening in a monetary policy. we feel like we're in a whole new regime where people feel like it doesn't matter at all. wondering if it matters at all how much you spend and borrow in these situations. how does it change, if at all your strategy from here? >> it makes having a long-term strategy really, really tough
hurdles, the government probably wouldn't allow a tie-up between two of the biggest miners in the country. it's looking not too bad right now. we've had the iron ore price jump up to levels that we haven't seen in more than 12 months. but rio is out with production numbers earlier on this week revealing that it's sought strong demand for iron ore innous trail ya over the 2012 calendar year and it is, of course, pressing ahead with massive expansion plans in northwestern australia. just how successful those are, of course, time will only tell. >> great. matt, thank you very much for joining us this morning. fascinating story. >> what's interesting, sam walsh, who is going to replace him on the scene as an operations guy, and it probably looks back at the reason he's going is because they misunderstood the operation or requirements in mozambique. >> they may have overpaid for the assets, but they also underplayed how difficult it was going to be, the infrastructure requirement, right? because they were going to load this stuff on to a barge, take it down the river. the amount of infrastruct
.s. debt ceiling or risk causing irreparable harm to the economy. he says the government will run out of tools to avoid a default by late february, early march. the u.s. credit rating is not a bargaining chip or hostage that can be taken to avoid any political agenda. president obama again rejected any negotiation with republicans over the debt ceiling. i love the debt clock. it's almost as fast as the amount of money they're going to earn tr nike. >> and is we'll talk about that. >> meanwhile, fed chairman ben bernanke speaking monday warned the u.s. economy isn't out of the woods yet and is still at risk from political gridlock. >> raising the debt ceiling, which congress has to do periodically, gives the government the ability to pay its existing bills. it doesn't create new deficits, it doesn't create new spending. so not raising the debt ceiling is sort of like a family trying to improve its credit rating saying, i know how we can save money, we won't pay our credit card bills. not the most effect of way to improve your credit rating. >> ben bernanke says the u.s. economy appears
about growth, the german government expected to slash in half its full-year outlook when it releases its annual economic report later today. according to the "business daily" there will be forecast growth of around .5%. >>> and representatives from central and eastern europe are gathering in vienna as we speak to discuss ways to jump-start growth and offset the effects of the eurozone debt crisis. joining us from vienna, our very own mr. geoff cutmore. what are they saying down at the conference there and about trying to get something going with europe? >> reporter: well, you've just read two stories that represent big nails in the coffin as it were, if that's not too melodramatic. as you talked to the ceos here at the conference, they complain and gripe about the slowdown in core europe. the fact that germany may have printed negative growth for the fourth quarter which represents a key market for many of these central and eastern european economies is really very bad news. so the reality is the growth s have disappeared here. the fdi isn't as strong as it used to be, residential constr
Search Results 0 to 5 of about 6